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The eThekwini Municipality\u2019s initiative to crowd in private capital along the Durban beachfront has reached a critical milestone, with preferred bidder Imvusa (Pty) Ltd securing more than R70 million for the major overhaul of 137 Lower Marine Parade.<\/p>\n
Total private-sector investment in the project is expected to reach approximately R100 million once individual tenant fit-outs are finalised.<\/p>\n
Read:
Southern Sun starts R250m overhaul of its biggest hotel
Landmark \u2018Joe Cools\u2019 Durban beachfront property to be redeveloped<\/p>\n
The site, previously home to the historic Durban Funworld amusement park before its closure, forms part of a broader municipal effort to revitalise prime real estate along the Golden Mile promenade.<\/p>\n
Leasing commitments and expansion<\/p>\n
The redevelopment will increase the property\u2019s commercial footprint by 135%, taking usable space from 1 700m\u00b2 to 4 000m\u00b2.<\/p>\n
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The expansion is supported by binding lease agreements with a mix of national food and hospitality operators, including Steers, Fishaways, Debonairs Pizza, Wimpy, Milky Lane and Perere by Gushima.<\/p>\n
The development will also introduce regional entrant Nonna\u2019s Riviera, marking the brand\u2019s debut in Durban and its first expansion outside Johannesburg.<\/p>\n
The redevelopment is also expected to create significant employment.<\/p>\n
Permanent jobs at the 137 Lower Marine Parade site will double from 85 to approximately 170 once the development opens. Nonna\u2019s Riviera alone is expected to account for 33 of those positions.<\/p>\n
An additional 80 temporary jobs will be created during the construction phase.<\/p>\n
Rising promenade foot traffic<\/p>\n
The R100 million private investment comes amid sustained growth in pedestrian traffic along the Durban beachfront promenade.<\/p>\n
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In 2025, the promenade recorded 17.45 million pedestrian movements, representing 20% growth over the previous year. Between January and September 2026, it recorded a further 11.25 million movements.<\/p>\n
Read\/listen\/watch:
High court review of R3.5bn Beachwood development land use approval fails
Durban is being fixed and is delivering for Southern Sun again
Former Funworld owner raises red flags over new Durban theme park<\/p>\n
Construction was rescheduled from June 2026 to allow legal proceedings required to secure vacant possession of the premises to be concluded.<\/p>\n
Remaining occupants are required to vacate the property by 15 January 2027, with formal site handover to take place immediately afterwards.<\/p>\n
Subject to statutory planning approvals and final lease agreements, construction is expected to begin in January 2027, with commercial trading targeted for the 2027\/28 festive season.<\/p>\n
#R100m #private #investment #set #boost #Durbans #Golden #Mile<\/p>\n","protected":false},"excerpt":{"rendered":"
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